1 Global Wagyu Beef Market Insight Analysis
The global Wagyu beef market was valued at USD 5,609.28 million in 2024 and is expected to maintain a strong CAGR of 6.19% during 2024-2033.
Wagyu beef originates from Japanese cattle breeds known for their superior genetic traits. The term “Wagyu” translates to “Japanese cow,” and this breed is characterized by its exceptional marbling, which is often referred to as “snowflake” or “marbled” beef. The marbling consists of fine intramuscular fat deposits that enhance the beef’s tenderness and flavor. Wagyu cattle are typically raised with meticulous care, often involving specialized feeding practices and strict quality control measures. This level of attention ensures that Wagyu beef maintains its reputation as one of the finest and most luxurious meats in the world.
Figure Global Wagyu Beef Market Size (M USD) and CAGR (2024-2033)
2 Wagyu Beef Market Growth Drivers and Restraints
Consumer eating habits are one of the important driving factors. The beef-based eating habits in Europe and the United States are closely related to the local ethnic characteristics, climate environment and lifestyle. The cooking methods in Europe and the United States are simple and fast, and meats such as beef and mutton are more in line with their dietary culture. They also prefer high-calorie dairy products, which provides a basis for the market expansion of Wagyu beef in these regions. The Japan-EU Economic Partnership Agreement (EPA), which came into effect in 2019, reduced tariffs, which increased the export volume of Wagyu beef to European and North American countries, further promoting market growth.
Wagyu beef is rich in fatty acids such as conjugated linoleic acid (CLA), and the meat is tender and juicy with a unique flavor. The beef fat has a good flavor and a low melting point. It also contains oleic acid, which is good for the heart, and the cholesterol level is lower than other red meat, fish and chicken. These health benefits make Wagyu beef a high-quality choice for people who pay attention to health and lifestyle, thereby driving the growth of market demand. With population growth, accelerated industrialization and rapid economic development, the Asia-Pacific region has become an emerging region with huge economic scale and market potential.
With its unique marble texture and high-quality taste, Wagyu beef has gradually opened up the market in the Asia-Pacific region. In addition to Japan, more and more countries have begun to import Wagyu beef. In addition, the African market is also gradually rising. The economic development of some African countries has brought huge beef market demand. Wagyu beef is highly favored as high-quality beef. The growth of demand in emerging markets has greatly promoted the development of the global Wagyu beef market.
Under the influence of the epidemic, online sales models have developed rapidly around the world, and online sales of Wagyu beef have become more popular. The epidemic has prompted people’s shopping habits to shift online. Many traditional Wagyu beef sales stores have also begun to transform to e-commerce, adopting the “online purchase, offline pickup” business model, which not only expands sales channels, but also improves sales data. The development of e-commerce has strongly promoted the growth of the Wagyu beef market.
The new crown epidemic has had a serious impact on the Wagyu beef market. The closure of restaurants around the world and the continued spread of logistics chaos have led to a sharp drop in demand for Wagyu beef. Although countries have gradually begun to explore the resumption of economic activities, whether demand and logistics can return to pre-epidemic levels still depends on the development of the epidemic and the popularization of vaccines.
At present, the epidemic has imposed a large restriction on the overall development of the Wagyu beef industry. Wagyu is a beef cattle breed that is improved by crossbreeding Japanese original cattle before the Meiji era with foreign cattle. Its main production areas are concentrated in Japan and Australia.
This limitation of production areas has limited the growth of Wagyu beef production, making it difficult to fully meet the growing market demand and not conducive to further market expansion. Wagyu farming has extremely high requirements for feed and quality control. Each Wagyu has a birth certificate to prove its pedigree.
From birth, Wagyu cattle are fed with milk, grass and protein-containing feed. Some ranches also use special breeding methods, such as massaging cattle, feeding beer or high-quality red wine, to improve the tenderness of the meat. These breeding methods greatly increase the breeding costs, resulting in higher prices for Wagyu beef, which is not very friendly to consumers, is not conducive to the development of a wider consumer market, and also puts greater pressure on producers.
3 Technological Innovations in the Wagyu Beef Market
In Australia, the Wagyu sector continues to explore new breeding models, providing solid support for genetic improvement through structured breeding innovation and progeny testing. This innovative breeding method helps to cultivate better Wagyu breeds, improve the quality and yield of Wagyu beef, and meet the market demand for high-quality Wagyu beef. In 2019, the College of Agriculture at Colorado State University and Brush Creek Ranch established a strategic partnership.
The two parties collaborated on the common interest of Wagyu beef. The faculty and students of Colorado State University used a multidisciplinary approach to optimize Wagyu breeding through advanced genetics, genomics, animal health and nutrition knowledge. The U.S. Department of Agriculture provided unique Wagyu genetic material through the National Animal Germplasm Program (NAGP), which promoted the development of Wagyu breeding technology. This collaboration not only promoted scientific innovation and sustainable agriculture, but also provided students with practical opportunities, while also enabling Brush Creek Ranch to produce higher quality Wagyu beef products and bring them to market through Ram Country Meats.
Australian Agricultural Company (AACo), as an important global supplier of Wagyu beef, has the largest Wagyu herd in the world. In recent years, the company has launched a sustainable development framework and announced five industry-shaping commitments. This shows that while pursuing economic benefits, the company pays more attention to environmental protection and social responsibility, and is committed to achieving sustainable development to adapt to the market’s requirements for corporate social responsibility and enhance the company’s social image and market competitiveness.
Blackmore Wagyu is an internationally renowned 100% purebred Wagyu beef producer with a unique breeding program. The company ensures the quality and purity of Wagyu by selecting genetic genes suitable for Australian conditions, accurately matching the breeding partner of each Wagyu, and tracking genetic genes using the latest DNA SNP technology. It also tracks Japanese ancestry through nose prints. This strict control of quality will help improve its competitiveness in the high-end Wagyu beef market and meet consumers’ demand for high-quality Wagyu beef.
As a large Japanese meat processing company, ITOHAM FOODS Inc. has been committed to improving product safety and quality. In the face of the increasing global concern about environmental issues, the company has formulated a new basic environmental policy, incorporated environmental protection into its corporate development strategy, achieved harmonious coexistence with nature by encouraging environmentally friendly businesses, and improved the company’s management quality and social responsibility to meet the market’s requirements for corporate environmental responsibility.
Snake River Farms focuses on the production and sale of Wagyu beef, and finely processes its products, such as hand-trimming American Wagyu rib-eye steaks, removing inner core fat and tender tendons, and retaining high-quality center eye meat, so that the steaks are uniform in size, rich in intramuscular fat, uniform in surface, and have good cooking effects. This strict control of product quality helps to improve the market competitiveness of products and meet consumers’ demand for high-quality Wagyu beef products. Starzen Co., Ltd. actively expands its business.
Since its Akagen plant obtained certification to export meat to Macau in 2009, it has not only vigorously expanded its export business of Japanese Wagyu beef, but also expanded its business scope to other product areas such as hybrid beef, pork, offal, processed meat, etc. Through a diversified product strategy, it has expanded its market share and enhanced the company’s market influence.
4 Global Wagyu Beef Market Size by Type
The Japanese breed of Wagyu beef is renowned as the most premium and authentic type, originating from Japan. It is celebrated for its exceptional marbling, tenderness, and rich flavor, which are unmatched by other breeds. In 2024, the Japanese breed is projected to dominate the global Wagyu beef market, accounting for approximately 76.56% of the total volume and 82.35% of the total market value. The market value for Japanese breed Wagyu beef is estimated to reach $4,619.36 million in 2024, reflecting its high demand and superior quality. This breed is primarily consumed in high-end restaurants and specialty retail outlets, where consumers are willing to pay a premium for its unparalleled taste and texture.
The Australian breed of Wagyu beef is the second most significant type in the global market. Developed through crossbreeding with Japanese Wagyu cattle, Australian Wagyu retains many of the desirable traits of its Japanese counterparts while adapting to the Australian farming environment. In 2024, the Australian breed is expected to account for 17.46% of the total market volume and 13.19% of the total market value. The market value for Australian breed Wagyu beef is estimated at $740.05 million. This breed is popular among consumers who seek high-quality beef at a slightly lower price point compared to Japanese Wagyu. It is widely available in both domestic and international markets, particularly in North America, Europe, and Asia-Pacific regions.
Table Global Wagyu Beef Market Size and Share by Type in 2024
Type | Market Size (M USD) 2024 | Market Share 2024 |
|---|---|---|
Japanese breed | 4619.36 | 82.35% |
Australian breed | 740.05 | 13.19% |
Others | 249.86 | 4.45% |
5 Global Wagyu Beef Market Size by Application
In the Retail segment, the Wagyu beef market demonstrated significant scale. According to the data, the sales volume of Wagyu beef in the retail sector in 2024 was 158,683 tons. The revenue reached 3240.40 million US dollars. The market share of the retail application in the global Wagyu beef market was approximately 57.77% in terms of value. This shows that the retail market is a crucial part of the Wagyu beef industry.
The growth of the retail segment can be attributed to several factors. Firstly, consumers’ increasing preference for high – quality food products lead them to purchase Wagyu beef from retail stores for home cooking. With the development of e – commerce, consumers can easily access Wagyu beef products online, which also promotes the expansion of the retail market. For example, in many developed countries, high – end supermarkets often stock a variety of Wagyu beef cuts, attracting consumers who value quality and taste.
The Foodservice segment also played a vital role in the global Wagyu beef market in 2024. The sales volume of Wagyu beef in the foodservice industry was 108,550 tons. The revenue amounted to 2368.88 million US dollars, accounting for around 42.23% of the global market value. The foodservice sector, including restaurants, hotels, and catering services, is an important outlet for Wagyu beef. High – end restaurants, in particular, often feature Wagyu beef on their menus to attract customers with its luxurious taste and high – end image.
However, the foodservice segment was affected by various factors. The COVID – 19 pandemic had a significant impact on the foodservice industry. Although the situation was gradually improving in 2024, the recovery speed varied in different regions. Some areas with a high density of tourism and business activities saw a relatively faster recovery in the demand for Wagyu beef in the foodservice sector.
Table Global Wagyu Beef Market Size and Share by Application in 2024
Application | Market Size (M USD) 2024 | Market Share 2024 |
|---|---|---|
Foodservice | 2368.88 | 42.23% |
Retail | 3240.40 | 57.77% |
6 Global Wagyu Beef Market Size by Region
The Asia Pacific region is a dominant force in the global Wagyu beef market. In 2024, the sales volume of Wagyu beef in this region reached 202,904 tons, and the revenue was 3745.01 million US dollars, accounting for approximately 66.76% of the global market value. The region’s large population, rapid economic growth, and increasing consumer demand for high – quality food contribute to its market dominance.
For example, countries like China, India, and South Korea have seen a surge in the consumption of Wagyu beef in recent years. The growth of the middle – class population in these countries has led to a higher demand for premium food products, including Wagyu beef. Additionally, the popularity of Japanese cuisine in the Asia Pacific region has also boosted the demand for Wagyu beef, which is often considered a high – end ingredient in Japanese dishes.
North America is another important region in the Wagyu beef market. In 2024, the sales volume was 40,491 tons, and the revenue was 1338.39 million US dollars, with a market share of about 23.86% in terms of value. The region has a long – standing beef – eating culture, and Wagyu beef has gradually gained popularity due to its unique taste and quality. The United States, in particular, has a large market for Wagyu beef, with consumers in major cities showing a strong preference for high – end beef products. However, the market in North America also faces competition from domestic beef producers and other imported beef varieties.
Europe has a relatively smaller but growing market for Wagyu beef. In 2024, the sales volume was 13,291 tons, and the revenue was 336.36 million US dollars, representing around 6.00% of the global market value. The region’s market is driven by the increasing interest in international cuisine and the demand for high – quality ingredients among consumers. European consumers are becoming more adventurous in their food choices and are willing to pay a premium for Wagyu beef. However, the market growth in Europe is also restricted by strict food safety regulations and high import tariffs in some countries.
The Middle East and Africa region is an emerging market for Wagyu beef. In 2024, the sales volume was 4,174 tons, and the revenue was 90.88 million US dollars, accounting for about 1.62% of the global market value. The growth in this region is mainly driven by the rising affluence in some countries, such as Saudi Arabia and the United Arab Emirates. These countries have a high demand for luxury food products, and Wagyu beef fits well into their high – end food consumption patterns. However, the market in this region also faces challenges such as high import costs and limited local production.
South America has a small but steadily growing Wagyu beef market. In 2024, the sales volume was 6,373 tons, and the revenue was 98.64 million US dollars, with a market share of around 1.76% in terms of value. The region’s beef – producing countries, like Brazil, are gradually increasing their production and export of Wagyu beef. The local market is also growing as consumers become more aware of the quality of Wagyu beef. However, South American producers need to improve their breeding and production techniques to compete with major Wagyu beef – producing countries.
Figure Global Wagyu Beef Market Size (M USD) by Region in 2024
7 Global Wagyu Beef Market Analysis by Major Players
7.1 Australian Agricultural Company (AACo)
Company Introduction and Business Overview:
Australian Agricultural Company (AACo) is one of the largest and oldest beef producers in Australia, established in 1824. With a vast landholding of approximately 6.4 million hectares across Queensland and the Northern Territory, AACo specializes in grain-fed beef and Wagyu beef production. The company is renowned for its commitment to sustainability and high-quality beef products.
AACo operates a vertically integrated business model, encompassing cattle breeding, fattening, and processing. The company’s Wagyu herd is one of the largest in the world, and its beef is served in some of the finest restaurants globally. AACo’s sustainability framework includes commitments to climate impact mitigation and responsible production practices, ensuring long-term viability and environmental stewardship.
Products:
AACo offers premium grain-fed beef and 100% Fullblood Wagyu beef. Their Wagyu products are known for their exceptional marbling and tenderness, making them highly sought after in both domestic and international markets.
Market Performance in 2021:
In 2021, AACo’s Wagyu beef sales reached 13,240 tons, with a sales value of $213.95 million. The company achieved a gross margin of 12.20%, reflecting its efficient operations and high-quality product offerings.
7.2 Blackmore Wagyu
Company Introduction and Business Overview:
Blackmore Wagyu, founded in 1988, is a family-owned business specializing in 100% Fullblood Wagyu beef. The company has pioneered the production of high-quality Wagyu beef in Australia, importing over 80% of Wagyu genetics into the country between 1992 and 2004. Blackmore Wagyu is renowned for its meticulous breeding program and commitment to maintaining the purity of the Wagyu breed.
Blackmore Wagyu operates a vertically integrated business model, focusing on breeding, raising, and processing premium Wagyu beef. The company’s breeding program combines three of Japan’s most famous Wagyu lineages to produce cattle with superior size, fertility, and robustness. Blackmore Wagyu’s products are marketed to gourmet butchers and high-end restaurants both domestically and internationally.
Products:
Blackmore Wagyu offers premium 100% Fullblood Wagyu beef, known for its exceptional marbling and tenderness. The company’s products are highly sought after by gourmet markets and fine dining establishments worldwide.
Market Performance in 2021:
In 2021, Blackmore Wagyu’s sales reached 461 tons, with a sales value of $7.65 million. The company achieved a gross margin of 12.96%, reflecting its premium product positioning and efficient operations.
7.3 ITOHAM FOODS Inc.
Company Introduction and Business Overview:
ITOHAM FOODS Inc., established in 1928, is one of Japan’s leading meat processing companies. Known for its high-quality ham, sausage, and processed meat products, ITOHAM FOODS has expanded its portfolio to include premium Wagyu beef. The company operates a robust distribution network across Japan and exports its products globally.
ITOHAM FOODS Inc. focuses on the production and distribution of a wide range of meat products, including Wagyu beef. The company’s commitment to quality and safety has earned it a strong reputation in the industry. ITOHAM FOODS also emphasizes environmental sustainability and social responsibility, integrating these values into its business practices.
Products:
ITOHAM FOODS offers a variety of meat products, including premium Japanese Wagyu beef. Their Wagyu products are known for their authentic flavor and high marbling, catering to both domestic and international gourmet markets.
Market Performance in 2021:
In 2021, ITOHAM FOODS Inc.’s Wagyu beef sales reached 2,754 tons, with a sales value of $47.66 million. The company achieved a gross margin of 12.48%, highlighting its efficient production and strong market positioning.